WEST COAST NOTES.

Press, Volume LIX, Issue 11377, 13 September 1902, Page 8

WEST COAST NOTES.

. .. (SPECIAL TO "THB PRESS.") GREYMOUTH, September 12. - - The returns to-morrow are not likely to show any improvement, while the .North Beach and Motown- Creek will not be co good. The Leviathan Company's dredge has been idle for some tune. The Leviathan Freehold Company's dredge is now operating in gradually improving and thickening ground, and in « week or so should give a good account of herself. The US otown -Creek Company's dredge has had a breakdown, that caused a stoppage for a day or so. The Totara Flat Company's dredge will make a fresh Btart next week. It ia the intention to add a few more trays and lengthen the elevator," as the hole made in the hull, which 1 sunk the machine, was caused by the strain grinding on the tailings heap. It'is estimated that about £1600 has been expended during the last fourteen weeks, since thf vessel Bunk, but the statement is not official. On Monday next the Ahaura River Company's dredge will bo again in commission. (PRESS ASSOCIATION TELEGRAM.) G-thiiJ-oUTii, September 12. "MaPhail is niakug good Aeaawuy with the erection of the _'edaersen'a Creek Company's dredge machinery, and by present appearances everything will be completed in three or four'weeks' tame. Tte po&toons are not yet launched, and the launoaing will prob*lJfa.not take placa until everything is in place. This is the first instance on the Coast where the machinery was put in position prior to the launching of the pontoons. The Buller Junction Company's dredge ia now working in .the middle of tJhe river, and everything appears to be. going well with the 2_ac___OTy. .•■■;.■'■ The "Welcome Company's dredge ia digging into a bank, twenty ieet in height, on McKay's Flat, and is getting good gold. iMeesrs iNees and Co. have started the work of dismantling the machinery of the Ruby Creek Company's dredge, prior to its removal io the Boatman's Creek claim at Cronadon. Pending the arrival of the new elevator tumbler shaft,;• made in Dunedin by Mess—a -loGFregOT and Co., the Pactolus Compjany have strengthened the old shaft, and started work again with the Midas dredgeMessrs Hill and MoKinnon, whose tender for the removal of the Golden Horseshoe Company's dredge and its erection on the Golden United Company's claim at. Duffers' Creek had been accepted, but it has not yet been finally arranged with the Golden "United Company to oarry out the work. Fresh tenders arc-shortly to be oalled. The balance-sheet of the Three Mile Greenstone Creek Gold Dredging Company for the year ending July 31st, 1902, is out. It shows a small credit balance of £6 16s 9d. The position, briefly,, is __pe_diture for the year was £3301 4s 7d, and the receipts in gold £3282'17s Sd. This leaves a debit of £25 7s 2d. To this must be added £642 8s 7d, /the balance of debit of" profit and loss on the aist of July, 1901. Sundry creditors represent -305 8s lid, and to meet these there is cash in the "National Bank at £*umara and Dunedin totalling £220 18s 4a,,a_d gold in hand £165 lis, equalling in all £386 9s 4d. Providing tfhe amount under the heading of "sundry oreditore" represent* the whole of the outstanding accounts at the date of the balance,, the comjiany had in hand cash to the amount of £81 0a 5d over and above their liabilities. For the month of August the dredge secured ISLoz fidwt of gold, which., at 78s per oz, would come to £511 15a 6d. Add the cash, in hand over and above the liabilities on July SOLst, and the sum is £592 15s Lid. Add to this total 25_oz of gold, valueo! at £87 15s, for last week, and the figures are £680 10s lid. From August Ist to September 6th, the date to which the above estimate is given, ia five weeks. The average weekly cost for running the dredge, including all office expenses, and. reckoning SO weeks in the' year, is £66. Five times this gives £330, to cover working and all expenses. From the date of balance to September 6tb this gives £350 10s lid as the approximate sum the oompany should have on hand now. As £100 will pay a ■shilling dividend, this should not ba a very remote possibility.